On meeting of Joint Coordinating Committee between Gazprom and Agency for Natural Resources and Energy, Japan’s Ministry of Economy, Trade and Industry

RELEASE

Release

December 12, 2008, 10:10

A regular meeting of the Joint Coordinating Committee between Gazprom and the Agency for Natural Resources and Energy, Japan’s Ministry of Economy, Trade and Industry, chaired by Alexander Ananenkov, Deputy Chairman of Gazprom’s Management Committee and Shinsuke Kitagawa, Director-General of the Natural Resources and Fuel Department with the Agency was held in Naha (Japan).

During the meeting the parties took notice of a report on the activities of the Joint Working Group in 2008 and discussed the prospects for further bilateral cooperation within the frames of the Eastern Program, including sci-tech cooperation.

The Joint Coordinating Committee approved the transition to the preparation of a joint investment feasibility study on the project aimed at creating gas processing and gas chemicals facilities to be fed with hydrocarbon products from the Sobinskoye oil and gas condensate field (Krasnoyarsk krai), taking into account a recent preliminary investigation made by the Japanese companies based on Gazprom’s input data. The parties signed the corresponding agreements.

Background

Gazprom and the Agency for Natural Resources and Energy under the Ministry of Economy, Trade and Industry of Japan signed a Framework Agreement of Cooperation on November 21, 2005. The Agreement determines the major directions of bilateral cooperation in the gas sector. The Joint Coordinating Committee was set up with the aim of implementing the Agreement. The first meeting of the Committee were held in January 2007. The Committee includes the Joint Working Group for various activities.

The September 3, 2007 Order by the Russian Federation Industry and Energy Ministry approved the Development Program for an integrated gas production, transportation and supply system in Eastern Siberia and the Far East, taking into account potential gas exports to China and other Asia-Pacific countries (Eastern Program). Gazprom was identified by the Russian Government as the Program execution coordinator.

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